I agree with the above statement because Hamilton's policies produced many positive ideas. His policies adopted the dollar and the 25 cent, ten cent, five cent, and one cent pieces which made currency exchange better regulated. Hamilton’s policies established the Bank of the United States which held and distributed money and made the money more reliable. Hamilton’s policies built up trade items’ capital and took in more revenue for the nation. Hamilton’s policies put in place tariffs and other taxes that helped repay the nations debts. Shortly after Hamilton’s policies were established, Jefferson became president and took apart pieces of Hamilton's policies. The author of the "yes" article, John Steele Gordon, tells us, because of Jefferson's destruction of "Hamilton's financial regulatory system," the "American economy would be the most volatile in the Western world, subject to an unending cycle of boom and bust." (page 185, p. 4) Yes, Hamilton’s policies were altered but it is a definite fact that Hamilton's policies laid the economic foundation of America during the early national period.
One thing I disagree on with Mr. Gordon is that Jefferson kept almost all of Hamilton's policies in tacked, therefore I do not think it is reasonable to lay future economic blame on Jefferson's economic policies. The great change that took place in westward expansion caused many issues for the government.
I agree with your point. Hamilton was definitely the first to lay the policies that Jefferson enforced and thus Jefferson should not be blamed. I also think that Jefferson didn't add very much to the economic policies so he could not be the reason for the economic struggles with exception of some of his decisions regarding taxes and wars. Thanks for commenting!
I agree that Alexander Hamilton's policies laid the foundation for economic growth in early America. By having the government assume the debts of the states and confederation, it brought the nation together to care about the well being of the entire country, not just the state. Also with Hamilton's policies, he was able to establish good credit with foreign countries, which enabled America to reap the benefits of trading. As John Steele Gordon states, "the willingness of the federal government to on the debt of the old helped mightily in gaining the trust of investors." Because of Hamilton's policies, governmental revenues were five times higher than of what they were 17 years ago. Joyce Appleby argues on the other hand that Jefferson was more of the reason for economic success by the expansion westward and by democratizing Hamilton's policies. I agree that westward movement helped stimulate the economy but I believe for the most part Jefferson left most of Hamilton's marks on the economy in place, like the national bank. Overall, Hamilton was a critical figure in America's early success, and his policies laid the foundation for a sound financial system that America desperately needed.
I agree with your post. Alexander Hamilton was "able to establish good credit with foreign countries." I also agree with your statement that "western movement helped stimulate the economy" and with your conditions following that statement. Hamilton was definitely a "critical figure in America's early success." Thanks for sharing and for listening to my comments as well!
I believe that Alexander Hamilton had good policies that would lay the future in economic growth. Alexander had the government take claim of the debts of the states. In doing so he brought the country together as a whole, making them feel as though the government was an ally. He also had the idea for cents, the quarter, dime, nickels, and pennies. Most other countries had a 20 cent piece. In doing so America gained a good reputation for paying back debts and started a better trading system with other countries. (Taking Sides, by Larry Madaras, and James M. SoRelle Page 181) “They have been funded in such a sound manner and the prosperity of this country is growing so rapidly that there can be no doubt of their solvency”.
I agree that when Hamilton assumed the state debt into the national debt he united the country. However it also made the colonies work together more in solving all of the debt the people then had to pay taxes, which was good and bad. People do not like taxes, thus did not like the government for that. Although the people did see the use in the taxed and payed them even though they do not like them.
Hamilton’s original policies were changed so many times that today they have the same idea, but they are completely different in today’s economy. At the time, Hamilton’s policies were a basis for the new nation, however, by today’s standards and issues Hamilton’s policies would never be able to withstand America’s economy, let alone be the foundation for it. I also was wondering what Hamilton creating pennies, dimes, etc. had to do with his policies and how they changed America’s economy in comparison to other countries with the 20 cent piece. My mind has not been changed, Hamilton’s policies are not the foundation of America’s economy, nor were they ever the foundation.
I also agree that Alexander Hamilton policies laid the foundation for economic growth in early America. Without Hamilton's successful structure laid out for us, the economy wouldn't have been as strong as it was during that time period. One of Hamilton's points was that the government shouldn't be allowed to issue paper money because in times of desperation, they would just print more money to solve their problems.(Gordon, pg. 182) This is relevant because printing more money than we could support would just dig us deeper in debt. Our economy today, for example, isn't doing so well. If we didn't follow Hamilton's policies, our government would just print more money to pay off our debts, but the money they printed would be meaningless and have nothing to back it up. Therefore, we would be in a lot more trouble than we were in the first place. Thanks to Alexander Hamilton, that situation isn't even a possibility. Hamilton's policies also helped the US gain a positive reputation with other countries so that money could be loaned out to us when needed. Hamilton's policies were exactly what the US needed at the time to grow economically. Many of Hamilton's policies are still in effect today, which proves that if they're successful in today's economy, they were definitely ahead of their time when they were initially put into effect.
I definitely agree that Hamilton helped the country greatly by not allowing the printing of paper money. This helps keep inflation down, else the money would have become just like Continentals; worthless.
I agree that without Hamiltons successful structure the economy would not have been as strong. Without Hamilton the economy would have went to crap and the states would have become in even more debt.
I agree with basically everything you had to say in your post. Hamilton's policies were and are very successful and have made the economy stronger. your statement, "They were definitely ahead of their tuime when they were intially put into effect" is something I concur with wholly. Hamilton's policies were extremely advanced and showed an extremem amount of forethought. Thanks for the great post!
Although Alexander Hamilton had many key ideas that lead to a stable economy, he was not the only force that lead to economic growth in the early national period. It is necessary to understand that while Hamilton created a sound structure for the economy to grow on, the citizens didn't have much of a push to grow, until the Embargo. The Embargo showed the states that while they depended on trade with Britain and France, these two great powers didn’t depend on them. This was the push the states needed to economically grow and develop. Also, while Hamilton was the first to begin paying off debts, he was not the only one. Many of Hamilton’s policies are used today in the U.S., however, a push is needed before people truly take action and grow.
I think the Embargo Act had more of a negative affect on the U.S. because it greatly hurt the economy and angered many Americans. America badly needed Britain and France for a healthy and growing economy, but it did help the United States develop more of their own factories and bolster industry.
Your comment was enlightening, though I concur with Calvin and Angela. The Embargo Act was a negative moment in US history. Another thought I had was that, without Hamilton, America wouldn't have had to footing to plant themselves on when they were given the extra "push" you described. Hamilton's policies had to be in place before the "push" could have had anywhere to go. Thanks for the other side of the argument!
Alexander Hamilton's policies did lay the foundation for the early economy. With little to go from he assumed all of the nation's national debts in order to start our economy on good grounds. Hamilton proved that a stable economy and good national credit would help other nations see that the country was good to trade with and the money was pure. He developed our quarter instead of us using a twenty cent piece. Originally our currency was " pieces of eight," the Spanish dollar cut into halves, quarters and eighths of it's original size. Without the dedication of allowing a new currency to be adopted the economy would have crashed. Hamilton wanted to change how America would be and with having a good economy, stable currency and good national credit he made trade with other nations,besides France and England, possible.
I agree. Alexander Hamilton did lay the foundation, I liked that you pointed out where Alaxander wanted to have a good economic system to start in the new world.
I like how you pointed out that Hamilton knew that having a stable economy and good credit would show other countries that the US was good to trade with. It's an important concept that politicians today should follow...
I do believe that Alexander Hamilton's policies layed the foundation for America's economic growth. Alexander Hamilton was one of many presidents that we have had in office that actually cared about paying off the debts of the states. Hamilton had proposals for funding the new government, assuming the debts of the states, and establishing a Bank of the Unites States. Hamilton was a smart person being he was appointed lieutenant colonel by George Washington in the Continental Army. Hamilton's military experience dealing with a financially starved Continental Army turned him into a staunch natiolist. Having dealt with a financially starved Continental Army Hamilton's military experience helped him deal with a financially starved United States durring his presidency.
I agree with you position that Secretary of the Treasury, Alexander Hamilton, cared and made great decisions relating to the economy. He had much experience and was well qualified for the job. I agree with basically your entire post and am glad to have read it!
Alexander Hamilton was a brilliant mind, and I believe that he laid down much of the foundations for the explosive growth of America’s economy. He helped build the money system of the dollar and cents, later he used the same system to build up America’s credit on a global level. Because the National Bank had money, and the state banks had money, Hamilton used the demand for a capitol that could be bought and invested in to bring up credit and lower the debt. Banks sold bonds that were backed by the National Government. France’s foreign minister Talleyrand said “the bonds were safe and free from the reverses. They have been funded in such a sound manner and the prosperity of this country is growing s rapidly that there can be no doubt of their solvency.” (Taking Sides by Larry Madaras and James M. SoRelle pg 181)
I agree that the dollars and cents system helped build up America’s credit so all other countries could see that the United States word was good. This leveled the playing field some because the United States was a new country they needed to have good credit to stand behind, otherwise there would not be any country willing to trade with us.
I think that Hamilton's policies laid the foundation for many of America's early economic growth. Some reason are that he assumed the states debts, bringing the states closer. He also created a singular monetary system, making trading nationally and internationally more easy. The Bank of the United States helped people to be able to invest in the country more, and economically support the country. He also wanted to be able to make policies to help pay off the national debt, and pay back debt at face value, to give the nation better credit with other nations they traded with.
Alexander Hamilton’s policies did lay the foundation for American’s economic growth in the early national period. When Hamilton assumed the state debt into the national debt he united the country more forcing the United States to work together in solving all of the debt and stimulating the economy. Then by trying to reduce the debt and have good credit, Hamilton showed other countries that the United Stated was good for their word of paying another country back, as well the United Stated could be traded with in good standing. Alexander Hamilton is said to have had a great mind by many people, he was the first person to be head of the treasury department. Thus, he had to have many great reasons as to why there were the taxes that he imposed, why he created the bank of America, and all of the other things he did. Looking at them closer, people find that the reasons Alexander Hamilton had for these things was that he wanted to stimulate the economy, and to abolish the national debt of the states and country.
I agree that Hamilton had been chosen to be the first secretary for good cause; however, he had no experience in such circumstances, so how do we know that his ideas were the best for this nation? The American experiment was new after years of Old World monarchy, therefore, none of the leaders had any experience even close to what they required in their positions, and so how is it possible to know if Hamilton’s policies were the best foundation for America’s economy? The truth is, Hamilton was corrected through the years by other leaders, therefore the policies now in use are not exactly the same and the foundation of America’s economy is not Hamilton’s original policies.
Alexander Hamilton is largely responsible for the foundation of America’s early economic growth due to his implementation of several key policies and practices. His first major contribution was the creation of a national bank, which established a more stable and regulated monetary system then was previously in practice. Hamilton then engineered a very effective plan of assuming all state debts. This encouraged citizens, Americans and Europeans alike, to purchase bonds. According to John Gordon, this gave America “the highest credit rating in Europe” and sold bonds for “10 percent over par”. This is an incredible feat considering just a few years previous, America could buy no money and a very weak market for their bonds. Without Alexander Hamilton, America’s economic system would not have reached relative stability as quickly, or possibly at all.
I like how you stated that Hamilton united the states with their monetary system and the assumption and paying off of debts, and how America 'had the highest credit rating in Europe.'
I agree with the above statement because Hamilton's policies produced many positive ideas. His policies adopted the dollar and the 25 cent, ten cent, five cent, and one cent pieces which made currency exchange better regulated. Hamilton’s policies established the Bank of the United States which held and distributed money and made the money more reliable. Hamilton’s policies built up trade items’ capital and took in more revenue for the nation. Hamilton’s policies put in place tariffs and other taxes that helped repay the nations debts. Shortly after Hamilton’s policies were established, Jefferson became president and took apart pieces of Hamilton's policies. The author of the "yes" article, John Steele Gordon, tells us, because of Jefferson's destruction of "Hamilton's financial regulatory system," the "American economy would be the most volatile in the Western world, subject to an unending cycle of boom and bust." (page 185, p. 4) Yes, Hamilton’s policies were altered but it is a definite fact that Hamilton's policies laid the economic foundation of America during the early national period.
ReplyDeleteOne thing I disagree on with Mr. Gordon is that Jefferson kept almost all of Hamilton's policies in tacked, therefore I do not think it is reasonable to lay future economic blame on Jefferson's economic policies. The great change that took place in westward expansion caused many issues for the government.
DeleteI agree with your point. Hamilton was definitely the first to lay the policies that Jefferson enforced and thus Jefferson should not be blamed. I also think that Jefferson didn't add very much to the economic policies so he could not be the reason for the economic struggles with exception of some of his decisions regarding taxes and wars. Thanks for commenting!
DeleteI agree that Alexander Hamilton's policies laid the foundation for economic growth in early America. By having the government assume the debts of the states and confederation, it brought the nation together to care about the well being of the entire country, not just the state. Also with Hamilton's policies, he was able to establish good credit with foreign countries, which enabled America to reap the benefits of trading. As John Steele Gordon states, "the willingness of the federal government to on the debt of the old helped mightily in gaining the trust of investors." Because of Hamilton's policies, governmental revenues were five times higher than of what they were 17 years ago. Joyce Appleby argues on the other hand that Jefferson was more of the reason for economic success by the expansion westward and by democratizing Hamilton's policies. I agree that westward movement helped stimulate the economy but I believe for the most part Jefferson left most of Hamilton's marks on the economy in place, like the national bank. Overall, Hamilton was a critical figure in America's early success, and his policies laid the foundation for a sound financial system that America desperately needed.
ReplyDeleteI agree with your post. Alexander Hamilton was "able to establish good credit with foreign countries." I also agree with your statement that "western movement helped stimulate the economy" and with your conditions following that statement. Hamilton was definitely a "critical figure in America's early success." Thanks for sharing and for listening to my comments as well!
DeleteI believe that Alexander Hamilton had good policies that would lay the future in economic growth. Alexander had the government take claim of the debts of the states. In doing so he brought the country together as a whole, making them feel as though the government was an ally. He also had the idea for cents, the quarter, dime, nickels, and pennies. Most other countries had a 20 cent piece. In doing so America gained a good reputation for paying back debts and started a better trading system with other countries. (Taking Sides, by Larry Madaras, and James M. SoRelle Page 181) “They have been funded in such a sound manner and the prosperity of this country is growing so rapidly that there can be no doubt of their solvency”.
ReplyDeleteI agree that Hamilton had the government take claim of the debts of the states which did indeed bring the country in as a whole.
DeleteI agree that when Hamilton assumed the state debt into the national debt he united the country. However it also made the colonies work together more in solving all of the debt the people then had to pay taxes, which was good and bad. People do not like taxes, thus did not like the government for that. Although the people did see the use in the taxed and payed them even though they do not like them.
DeleteHamilton’s original policies were changed so many times that today they have the same idea, but they are completely different in today’s economy. At the time, Hamilton’s policies were a basis for the new nation, however, by today’s standards and issues Hamilton’s policies would never be able to withstand America’s economy, let alone be the foundation for it. I also was wondering what Hamilton creating pennies, dimes, etc. had to do with his policies and how they changed America’s economy in comparison to other countries with the 20 cent piece. My mind has not been changed, Hamilton’s policies are not the foundation of America’s economy, nor were they ever the foundation.
DeleteI also agree that Alexander Hamilton policies laid the foundation for economic growth in early America. Without Hamilton's successful structure laid out for us, the economy wouldn't have been as strong as it was during that time period. One of Hamilton's points was that the government shouldn't be allowed to issue paper money because in times of desperation, they would just print more money to solve their problems.(Gordon, pg. 182) This is relevant because printing more money than we could support would just dig us deeper in debt. Our economy today, for example, isn't doing so well. If we didn't follow Hamilton's policies, our government would just print more money to pay off our debts, but the money they printed would be meaningless and have nothing to back it up. Therefore, we would be in a lot more trouble than we were in the first place. Thanks to Alexander Hamilton, that situation isn't even a possibility. Hamilton's policies also helped the US gain a positive reputation with other countries so that money could be loaned out to us when needed. Hamilton's policies were exactly what the US needed at the time to grow economically. Many of Hamilton's policies are still in effect today, which proves that if they're successful in today's economy, they were definitely ahead of their time when they were initially put into effect.
ReplyDeleteI definitely agree that Hamilton helped the country greatly by not allowing the printing of paper money. This helps keep inflation down, else the money would have become just like Continentals; worthless.
DeleteI agree that without Hamiltons successful structure the economy would not have been as strong. Without Hamilton the economy would have went to crap and the states would have become in even more debt.
DeleteI agree with basically everything you had to say in your post. Hamilton's policies were and are very successful and have made the economy stronger. your statement, "They were definitely ahead of their tuime when they were intially put into effect" is something I concur with wholly. Hamilton's policies were extremely advanced and showed an extremem amount of forethought. Thanks for the great post!
DeleteThanks for the replies. I'm glad you guys picked out what I was trying to say.
DeleteAlthough Alexander Hamilton had many key ideas that lead to a stable economy, he was not the only force that lead to economic growth in the early national period. It is necessary to understand that while Hamilton created a sound structure for the economy to grow on, the citizens didn't have much of a push to grow, until the Embargo. The Embargo showed the states that while they depended on trade with Britain and France, these two great powers didn’t depend on them. This was the push the states needed to economically grow and develop. Also, while Hamilton was the first to begin paying off debts, he was not the only one. Many of Hamilton’s policies are used today in the U.S., however, a push is needed before people truly take action and grow.
ReplyDeleteI think the Embargo Act had more of a negative affect on the U.S. because it greatly hurt the economy and angered many Americans. America badly needed Britain and France for a healthy and growing economy, but it did help the United States develop more of their own factories and bolster industry.
DeleteI enjoyed reading a different stand point on this topic, though I have to agree with Calvin. The Embargo was more negative.
DeleteYour comment was enlightening, though I concur with Calvin and Angela. The Embargo Act was a negative moment in US history. Another thought I had was that, without Hamilton, America wouldn't have had to footing to plant themselves on when they were given the extra "push" you described. Hamilton's policies had to be in place before the "push" could have had anywhere to go. Thanks for the other side of the argument!
DeleteAlexander Hamilton's policies did lay the foundation for the early economy. With little to go from he assumed all of the nation's national debts in order to start our economy on good grounds. Hamilton proved that a stable economy and good national credit would help other nations see that the country was good to trade with and the money was pure. He developed our quarter instead of us using a twenty cent piece. Originally our currency was " pieces of eight," the Spanish dollar cut into halves, quarters and eighths of it's original size. Without the dedication of allowing a new currency to be adopted the economy would have crashed. Hamilton wanted to change how America would be and with having a good economy, stable currency and good national credit he made trade with other nations,besides France and England, possible.
ReplyDeleteI agree. Alexander Hamilton did lay the foundation, I liked that you pointed out where Alaxander wanted to have a good economic system to start in the new world.
DeleteI like how you pointed out that Hamilton knew that having a stable economy and good credit would show other countries that the US was good to trade with. It's an important concept that politicians today should follow...
DeleteI do believe that Alexander Hamilton's policies layed the foundation for America's economic growth. Alexander Hamilton was one of many presidents that we have had in office that actually cared about paying off the debts of the states. Hamilton had proposals for funding the new government, assuming the debts of the states, and establishing a Bank of the Unites States. Hamilton was a smart person being he was appointed lieutenant colonel by George Washington in the Continental Army. Hamilton's military experience dealing with a financially starved Continental Army turned him into a staunch natiolist. Having dealt with a financially starved Continental Army Hamilton's military experience helped him deal with a financially starved United States durring his presidency.
ReplyDeleteI agree with you position that Secretary of the Treasury, Alexander Hamilton, cared and made great decisions relating to the economy. He had much experience and was well qualified for the job. I agree with basically your entire post and am glad to have read it!
DeleteAlexander Hamilton was a brilliant mind, and I believe that he laid down much of the foundations for the explosive growth of America’s economy. He helped build the money system of the dollar and cents, later he used the same system to build up America’s credit on a global level. Because the National Bank had money, and the state banks had money, Hamilton used the demand for a capitol that could be bought and invested in to bring up credit and lower the debt. Banks sold bonds that were backed by the National Government. France’s foreign minister Talleyrand said “the bonds were safe and free from the reverses. They have been funded in such a sound manner and the prosperity of this country is growing s rapidly that there can be no doubt of their solvency.” (Taking Sides by Larry Madaras and James M. SoRelle pg 181)
ReplyDeleteI agree that the dollars and cents system helped build up America’s credit so all other countries could see that the United States word was good. This leveled the playing field some because the United States was a new country they needed to have good credit to stand behind, otherwise there would not be any country willing to trade with us.
DeleteI think that Hamilton's policies laid the foundation for many of America's early economic growth. Some reason are that he assumed the states debts, bringing the states closer. He also created a singular monetary system, making trading nationally and internationally more easy. The Bank of the United States helped people to be able to invest in the country more, and economically support the country. He also wanted to be able to make policies to help pay off the national debt, and pay back debt at face value, to give the nation better credit with other nations they traded with.
ReplyDeleteAlexander Hamilton’s policies did lay the foundation for American’s economic growth in the early national period. When Hamilton assumed the state debt into the national debt he united the country more forcing the United States to work together in solving all of the debt and stimulating the economy. Then by trying to reduce the debt and have good credit, Hamilton showed other countries that the United Stated was good for their word of paying another country back, as well the United Stated could be traded with in good standing. Alexander Hamilton is said to have had a great mind by many people, he was the first person to be head of the treasury department. Thus, he had to have many great reasons as to why there were the taxes that he imposed, why he created the bank of America, and all of the other things he did. Looking at them closer, people find that the reasons Alexander Hamilton had for these things was that he wanted to stimulate the economy, and to abolish the national debt of the states and country.
ReplyDeleteI agree that Hamilton had been chosen to be the first secretary for good cause; however, he had no experience in such circumstances, so how do we know that his ideas were the best for this nation? The American experiment was new after years of Old World monarchy, therefore, none of the leaders had any experience even close to what they required in their positions, and so how is it possible to know if Hamilton’s policies were the best foundation for America’s economy? The truth is, Hamilton was corrected through the years by other leaders, therefore the policies now in use are not exactly the same and the foundation of America’s economy is not Hamilton’s original policies.
DeleteAlexander Hamilton is largely responsible for the foundation of America’s early economic growth due to his implementation of several key policies and practices. His first major contribution was the creation of a national bank, which established a more stable and regulated monetary system then was previously in practice. Hamilton then engineered a very effective plan of assuming all state debts. This encouraged citizens, Americans and Europeans alike, to purchase bonds. According to John Gordon, this gave America “the highest credit rating in Europe” and sold bonds for “10 percent over par”. This is an incredible feat considering just a few years previous, America could buy no money and a very weak market for their bonds. Without Alexander Hamilton, America’s economic system would not have reached relative stability as quickly, or possibly at all.
ReplyDeleteI like how you stated that Hamilton united the states with their monetary system and the assumption and paying off of debts, and how America 'had the highest credit rating in Europe.'
Delete